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← Wccm Oblate Trust

2024-12-31-accounts

Charity registration number 1171768

WCCM OBLATE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

WCCM OBLATE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustee
Charity number
Registered office
Independent examiner
Bankers
Website		 Fr. Laurence Freeman OSB
Mr Giovanni Felicioni
Ms Judith Taylor
Mr Leonardo Winck Correa
Mr Paul Taylor
Ms Pauline Peters
1171768
WCCM International Centre
St Marks
Myddleton Square
London
EC1R 1XX
David Terry
Ramon Lee Ltd
93 Tabernacle Street
London
EC2A 4BA
Lloyds Bank PLC
PO Box 1000
Andover
BX1 1LT
welcome@wccm.org

WCCM OBLATE TRUST

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 14

WCCM OBLATE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustee present their annual report and financial statements for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The objectives of the charity are:

Achievements and performance

WCCM OBLATE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Regional activities

Australia

An exciting new initiative for our Australian oblates is the opportunity to be “meditator-in-residence” at our retreat centre in central Australia www.campfireintheheart.com.au . This role embodies Benedictine hospitality in all its aspects, and involves holding regular times of silence, deeply resonant with the ancient landscape in which the centre stands. The centre also offers in-person and online “cell days” and retreat weekends and supports our David’s Place retreat for those living precariously.

Brazil

Online meetings to study the Rule are being offered. Some of our oblates are volunteering to lead an introductory course on Christian meditation in Brazil. At the Brazil national retreat, specific meetings geared towards the Oblate cell are offered with guidance from Dom Alexandra (Benedictine monk from the monastery of São Paulo)

Canada

Plans to hold an annual Oblate retreat in Toronto are under exploration.

Ukraine and Russia

Fr Laurence Freeman visited Ukraine. The NOCs for Ukraine and Russia, Albert and Maria Zakharovi, shared videos of the various meetings – some hybrid – which were all well attended.

UK

The UK online meditation groups, offered 3 times a day during weekdays and 2 times during the weekend, are facilitated by UK oblates but also attract meditators worldwide.

Financial review

The financial results for the year are set out in the Statements of Financial Activities on page 6. The charity recorded an overall deficit of £6,106 (2023 deficit - £6,038). The financial position at the year end revealed by the Balance Sheet on page 7 shows net current assets or working capital of £15,952 (2023 - £22,058).

Reserves policy

The Trustees consider it prudent to maintain an adequate level of unrestricted reserves to cover the Charity’s contractual commitments and provide sufficient working capital and to accumulate funds towards the costs of achieving future objectives of the Charity. The unrestricted funds not designated or invested in tangible fixed assets held by the charity are £15,952 (2023 - £22,058). The reserves of the charity are retained to be used for the benefit of the charity as and when the Trustees see fit.

WCCM OBLATE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Principal funding sources

The principal funding sources were donations from The World Community for Christian Meditation.

Plans for future periods

Structure, governance and management

Governing document

The organisation is an incorporated organisation registered as a charity with the Charity Commission on 23 February 2018 (charity no. 1171768). The charity is established under a written constitution that established the objects and powers of the charity and is also governed under this constitution.

Recruitment and appointment of Trustees

The Board of Trustees has the power to appoint additional Trustees as it considers fit to do so. The Trustees in the office in the year are set out on page 3.

They have no beneficial interest in the organisation other than as members and have absolute discretion with regards to investment decisions. No Trustee received remuneration during the year for services to the charity.

Organisation

The Board meets monthly to review the affairs of the charity. They use electronic methods, when necessary, in order to ensure matters are not delayed.

Related parties

The Charity has some common Trustees with The World Community For Christian Meditation, charity number 327173.

Risk Management

The Trustees have a risk management strategy which comprises:

Public Benefit statement

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PD2). The achievements and activities above demonstrate the public benefit arising through the Charity’s activities.

Our volunteers

All the Oblates were volunteers during this accounting year.

WCCM OBLATE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Statement of trustees' responsibilities

The Trustee are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the Trustee are required to:

The Trustee are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the Board of Trustee and signed on its behalf. levers este 086 Fr. Laurence Freeman OSB

CHAIR

24 October 2025

WCCM OBLATE TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF WCCM OBLATE TRUST

I report to the Trustee on my examination of the financial statements of WCCM Oblate Trust (the charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the Trustee of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

David Terry

Ramon Lee Ltd 93 Tabernacle Street London EC2A 4BA

Dated: 24 October 2025

WCCM OBLATE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
Restricted
funds
funds
Notes
£
£
Income from:
Donations and legacies
3
-
-
Total income
-
-
Expenditure on:
Charitable activities
4
1,932
4,174
Total expenditure
1,932
4,174
Net outgoing resources before transfers
(1,932)
(4,174)
Gross transfers between funds
(4,174)
4,174
Net expenditure for the year/
Net movement in funds
(6,106)
-
Fund balances at 1 January 2024
22,058
-
Fund balances at 31 December 2024
15,952
-		 Total
2024
£
-
-
6,106
6,106
(6,106)
-
(6,106)
22,058
15,952		 Total
2023
£
100
100
6,138
6,138
(6,038)
-
(6,038)
28,096
22,058

CONTINUING OPERATIONS

None of the Charity’s activities were acquired or discontinued during the above financial years.

TOTAL RECOGNISED GAINS AND LOSSES

The Charity has no recognised gains or losses other than the above movements in funds during the above financial years.

The notes on pages 8 to 14 form part of these financial statements.

WCCM OBLATE TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2024

Notes
Current assets
Debtors
7
Cash at bank and in hand
Creditors: amounts falling due within
one year
8
Net current assets
Income funds
Unrestricted funds		 2024
£
937
16,965
17,902
(1,950)		 £
15,952
15,952
15,952		 2023
£
1,011
23,819
24,830
(2,772)		 £
22,058
22,058
22,058

The notes on pages 8 to 14 form part of these financial statements.

The financial statements were approved by the Trustee on 24 October 2025 and were signed on its behalf by:

Fr. Laurence Freeman OSB

Chair

WCCM OBLATE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

The Charity’s Financial Statements show net deficit of £6,106 (2023 deficit- £6,038) for the year and free reserves of £15,952 (2023 - £22,058). The trustees are of the view that these results have secured the immediate future of the Charity for the next 12 to 18 months and on this basis the Charity is a going concern.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustee in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Voluntary income including donations, gifts and legacies that provide core funding or are of general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when:

Bank interest is included on a receipts basis.

Income Tax recoverable on donations received is included on an accruals basis.

WCCM OBLATE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance and administration personnel and governance costs which support the Trust’s programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 4.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8 Taxation

The Charity is a registered charity and, therefore, is not liable for Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

1.9 Creditors and Provisions

Creditors and Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

WCCM OBLATE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustee are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
funds
£
Other donations
-
-
For the year ended 31 December 2023
100		 Total
2024
£
-
-		 Total
2023
£
100
100
100

WCCM OBLATE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

4 Charitable activities

Oblate
support
£
Community Leadership Programme
-
Foreign exchange (gains) / losses
814
Stipend
4,174
4,988
Share of support costs (see note 5)
68
Share of governance costs (see note 5)
1,050
6,106
Analysis by fund
Unrestricted funds
1,932
Restricted funds
4,174
6,106
For the year ended 31 December 2023
Unrestricted funds
2,341
Restricted funds
3,797
6,138
Support costs
Support Governance
costs
costs
£
£
Bank charges
68
-
Independent examination
-
1,050
68
1,050
Analysed between
Charitable activities
68
1,050
68
1,050		 Total
2024
£
-
814
4,174
4,988
68
1,050
6,106
1,932
4,174
6,106
Total
2024
£
68
1,050
1,118
1,118
1,118		 Total
2023
£
740
542
3,797
5,079
87
972
6,138
2,341
3,797
6,138
2,341
3,797
6,138
Total
2023
£
87
972
1,059
1,059
1,059

5 Support costs

WCCM OBLATE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

6
7
8		 Net movement in funds
Net movement in funds is stated after charging/(crediting)
Independent Examination
Independent examination fee
Debtors
Prepayments
Creditors: amounts falling due within one year
Other creditors
Accruals		 2024
£
1,050
2024
937
937
2024
£
900
1,050
1,950		 2023
£
972
2023
1,011
1,011
2023
£
1,800
972
2,772

WCCM OBLATE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

9 Restricted funds

Restricted funds
Balance at Incoming Resources Transfers Balance at Resources Transfers Balance at
1 January 2023 resources expended 1 January 2024 expended 31 December 2024
£ £ £ £ £ £ £ £
The Meditation Foundation 1,877 - (3,797) 1,920 - (4,174) 4,174 -
1,877 - (3,797) 1,920 - (4,174) 4,174 -

Description, nature and purpose of restricted funds:

The Meditatio Foundation – funding towards the salary cost of the assistant manager of the Bonnevaux.

WCCM OBLATE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

10
Analysis of net assets between funds
Unrestricted
funds
£
Fund balances at 31 December 2024 are
represented by:
Current assets/(liabilities)
15,952
15,952		 Total Unrestricted
2024
funds
£
£
15,952
22,058
15,952
22,058		 Total
2023
£
22,058
22,058

11 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).